DEGROHOLD: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
DEGROHOLD
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€304,872
2024 · -€1.5m+€1.8m
Equity
€34.7m
2024 · €34.4m+€269,872
Cash
€336,728
2024 · €1.2m-€854,083
Balance sheet total
€49.8m
2024 · €48.0m+€1.8m
Largest movements
Assets
- Current investments +€1.1m
up €1.1m (+3.2%), from €35.8m to €37.0m
- Financial fixed assets +€1.1m
up €1.1m, from €0 to €1.1m
- Cash -€854,083
down €854,083 (-71.7%), from €1.2m to €336,728
mainly Current investments (-€1.1m) and Investment in fixed assets (net) (-€1.1m)
Equity and liabilities
- Accrued charges and deferred income +€1.6m
up €1.6m (+32.2%), from €4.9m to €6.4m
Income statement
- Financial charges -€1.8m
down €1.8m (-63.9%), from €2.8m to €1.0m
- Taxes -€221,864
down €221,864 (-48.6%), from €456,796 to €234,931
- Financial income -€212,406
down €212,406 (-10.2%), from €2.1m to €1.9m
- Gross operating margin -€29,391
down €29,391 (-12.0%), from -€245,473 to -€274,864
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
-€1.5m
Gross operating margin
-€29,391
Staff costs
-€272
Depreciation
+€390
Other operating charges
-€46
Financial income
-€212,406
Financial charges
+€1.8m
Taxes
+€221,864
Result 2025
€304,872
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.5m
Investment
-€2.3m
Financing
-€35,000
Cash 2024
€1.2m
From operations (derived)
+€1.5m
Net result for the year
+€304,872
Depreciation
+€266
Receivables after one year
-€50,000
Receivables within one year
-€257,055
Deferred charges and accrued income
-€75,910
Trade debts
-€17,293
Tax, wage and social debts
-€43,824
Other debts
+€31,985
Accrued charges and deferred income
+€1.6m
Investment (derived)
-€2.3m
Investment in fixed assets (net)
-€1.1m
Current investments
-€1.1m
Financing
-€35,000
Contributions, distributions and other
-€35,000
Cash 2025
€336,728
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,017,898 | €49,822,233 | +€1.8m | +3.8% |
| Fixed assets | 21/28 | €266 | €1,137,204 | +€1.1m | +427,147% |
| Tangible fixed assets | 22/27 | €266 | €0 | -€266 | -100% |
| Furniture and vehicles | 24 | €266 | €0 | -€266 | -100% |
| Financial fixed assets | 28 | €0 | €1,137,204 | +€1.1m | |
| Current assets | 29/58 | €48,017,632 | €48,685,028 | +€667,397 | +1.4% |
| Amounts receivable after more than one year | 29 | €4,408,725 | €4,458,725 | +€50,000 | +1.1% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €4,408,725 | €4,458,725 | +€50,000 | +1.1% |
| Amounts receivable within one year | 40/41 | €6,299,139 | €6,556,194 | +€257,055 | +4.1% |
| Other amounts receivable | 41 | €6,299,139 | €6,556,194 | +€257,055 | +4.1% |
| Current investments | 50/53 | €35,821,360 | €36,959,874 | +€1.1m | +3.2% |
| Cash at bank and in hand | 54/58 | €1,190,810 | €336,728 | -€854,083 | -71.7% |
| Deferred charges and accrued income | 490/1 | €297,597 | €373,507 | +€75,910 | +25.5% |
| Total equity and liabilities | 10/49 | €48,017,898 | €49,822,233 | +€1.8m | +3.8% |
| Equity | 10/15 | €34,422,637 | €34,692,509 | +€269,872 | +0.8% |
| Contributions | 10/11 | €10,080,606 | €10,080,606 | = | 0.0% |
| Capital | 10 | €10,080,606 | €10,080,606 | = | 0.0% |
| Issued capital | 100 | €10,080,606 | €10,080,606 | = | 0.0% |
| Reserves | 13 | €25,819,957 | €25,819,957 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,008,061 | €1,008,061 | = | 0.0% |
| Legal reserve | 130 | €1,008,061 | €1,008,061 | = | 0.0% |
| Distributable reserves | 133 | €24,811,896 | €24,811,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,477,926 | -€1,208,054 | +€269,872 | +18.3% |
| Amounts payable | 17/49 | €13,595,261 | €15,129,724 | +€1.5m | +11.3% |
| Amounts payable after more than one year | 17 | €8,659,500 | €8,659,500 | = | 0.0% |
| Financial debts | 170/4 | €8,659,500 | €8,659,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €73,398 | €44,266 | -€29,133 | -39.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €25,650 | €8,357 | -€17,293 | -67.4% |
| Suppliers | 440/4 | €25,650 | €8,357 | -€17,293 | -67.4% |
| Taxes, remuneration and social security | 45 | €46,505 | €2,680 | -€43,824 | -94.2% |
| Taxes | 450/3 | €43,959 | €0 | -€43,959 | -100% |
| Remuneration and social security | 454/9 | €2,546 | €2,680 | +€135 | +5.3% |
| Other amounts payable | 47/48 | €1,243 | €33,228 | +€31,985 | +2,572% |
| Accrued charges and deferred income | 492/3 | €4,862,362 | €6,425,958 | +€1.6m | +32.2% |
| Remuneration, social security and pensions | 62 | €37,022 | €37,294 | +€272 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €656 | €266 | -€390 | -59.5% |
| Other operating charges | 640/8 | €4,507 | €4,553 | +€46 | +1.0% |
| Gross operating margin | 9900 | -€245,473 | -€274,864 | -€29,391 | -12.0% |
| Operating profit (loss) | 9901 | -€287,658 | -€316,977 | -€29,319 | -10.2% |
| Financial income | 75/76B | €2,088,371 | €1,875,965 | -€212,406 | -10.2% |
| Recurring financial income | 75 | €2,088,371 | €1,875,965 | -€212,406 | -10.2% |
| Financial charges | 65/66B | €2,821,843 | €1,019,185 | -€1.8m | -63.9% |
| Recurring financial charges | 65 | €2,821,843 | €1,019,185 | -€1.8m | -63.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,021,130 | €539,803 | +€1.6m | |
| Income taxes | 67/77 | €456,796 | €234,931 | -€221,864 | -48.6% |
| Profit (loss) for the period | 9904 | -€1,477,926 | €304,872 | +€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,477,926 | €304,872 | +€1.8m |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.